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Hexxx
Minmatar
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Posted - 2008.01.30 03:10:00 -
[1]
After discussion and a majority vote; EBANK Checking accounts will be changing. You will find the changes listed below:
1) All current users will recieve a Checking account if they do not already have one. 2) All future users will recieve a Checking account. 3) Checking accounts are no longer tied to EBANK expansions, only Savings accounts are.
There are other changes being considered, but one step at a time. Expect these changes to be "live" within the next hour.
Consulting, IPO Template, and Stock/Bond definitions.
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Kwint Sommer
Incoherent Inc Otaku Invasion
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Posted - 2008.01.30 03:11:00 -
[2]
Originally by: Hexxx
3) Checking accounts are no longer tied to EBANK expansions, only Savings accounts are.
Does that mean that they will have A) a 1B cap forever B) no cap starting now C) a 1B cap at the moment that will change but won't be linked to expansions of Ebank
5% Mining & Manufacturing Implants |
Hexxx
Minmatar
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Posted - 2008.01.30 03:14:00 -
[3]
Originally by: Kwint Sommer
Originally by: Hexxx
3) Checking accounts are no longer tied to EBANK expansions, only Savings accounts are.
Does that mean that they will have A) a 1B cap forever B) no cap starting now C) a 1B cap at the moment that will change but won't be linked to expansions of Ebank
All Checking accounts will have a 1B cap for the time being.
This may change in the future depending on what the Board authorizes.
Consulting, IPO Template, and Stock/Bond definitions.
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Selene D'Celeste
Caldari The D'Celeste Estate
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Posted - 2008.01.30 06:38:00 -
[4]
Huzzah, EBANK.
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Astorothe
Aperture Science Industries
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Posted - 2008.01.30 07:42:00 -
[5]
Good article, well done guys. EBank still r0x0rs \o/
Ze logs show NOTHING! ~ Eve Corp and Fansite Web design, development and hosting services
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Kwint Sommer
Incoherent Inc Otaku Invasion
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Posted - 2008.01.30 07:59:00 -
[6]
Originally by: Hexxx
As of 9:25 PM EST (US) our database went postal. We're working on the issue now.
Next time save the big public announcement for after you successfully roll out the change. Cause when they go wrong like this it kind of makes you look bad....That said, if anything it makes me more likely to borrow money from you guys, nothing like knowing theres a chance the bank will loose my loan.
Seriously, Ebank is awesome and I'm sure they have their database backed up.
5% Mining & Manufacturing Implants |
Treelox
Amarr Market Jihadist Revolutionary Party
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Posted - 2008.01.30 08:07:00 -
[7]
Originally by: Kwint Sommer
Seriously, Ebank is awesome and I'm sure they have their database backed up.
Im sure they have a back up, im betting that in some ways their seperate test server could go live as the main server if something terrbile happened to their main server. --
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Kwint Sommer
Incoherent Inc Otaku Invasion
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Posted - 2008.01.30 08:14:00 -
[8]
Originally by: Treelox
Im sure they have a back up, im betting that in some ways their seperate test server could go live as the main server if something terrbile happened to their main server.
Given the relatively limited amount of data (under 1 terrabyte) they're working with and the fact that they probably never experience more than 100 simultaneous connections (they don't even have 1000 people signed up) I'm betting this runs off of one computer so reverting to an older version or switching hosts should be pretty quick and painless if it were ever necessary.
5% Mining & Manufacturing Implants |
Hexxx
Minmatar
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Posted - 2008.01.30 15:47:00 -
[9]
Originally by: Treelox
Originally by: Kwint Sommer
Seriously, Ebank is awesome and I'm sure they have their database backed up.
Im sure they have a back up, im betting that in some ways their seperate test server could go live as the main server if something terrbile happened to their main server.
We do daily backups, plus we have API data as well. If our database was wiped we could rebuild it within a day.
So far all the database issues haven't caused any corruption at all. "High risk" changes are tested quite a bit.
Consulting, IPO Template, and Stock/Bond definitions.
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Salpad
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Posted - 2008.01.30 16:24:00 -
[10]
I visited the EBank website, last night, and read the FAQ and everything, but nowhere was I able to find an explanation about how a savings account differs from a regular account.
3% interest per month doesn't sound like much[1], but I'd be willing to throw 50M ISK your way, if you will explain, on your website, how various account types differ from each other.
[1] I'm planning on throwing 50M after Akita T's "wild scheme IPO" as a high-risk investment, and then maybe 50M after EBank as a no-risk investment, and then my last 50M after some low-risk investment (which I haven't found yet).
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Hexxx
Minmatar
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Posted - 2008.01.30 16:28:00 -
[11]
Edited by: Hexxx on 30/01/2008 16:30:27
Originally by: Salpad I visited the EBank website, last night, and read the FAQ and everything, but nowhere was I able to find an explanation about how a savings account differs from a regular account.
3% interest per month doesn't sound like much[1], but I'd be willing to throw 50M ISK your way, if you will explain, on your website, how various account types differ from each other.
[1] I'm planning on throwing 50M after Akita T's "wild scheme IPO" as a high-risk investment, and then maybe 50M after EBank as a no-risk investment, and then my last 50M after some low-risk investment (which I haven't found yet).
Taken directly from our FAQ on the website:
Quote:
"What are the interest rates?
Checking works out to 1.5% per month and Savings works out to 3% per month. Compounded of course. =)"
Edit: actually, I don't see the caps listed for checking/savings. I'll add this but they are the following:
Maximum amount that can be transfered into a Savings account: 500 million isk
Maximum amount that can be transfered into a Checking account: 1 billion isk
Consulting, IPO Template, and Stock/Bond definitions.
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Shadarle
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Posted - 2008.01.30 17:09:00 -
[12]
Originally by: Hexxx edit: I recycled this post for the sake of Shardale. Forum threads are a non-renewable resource and we should all do our part to recycle when possible. Think Green, Think EBANK!(tm)
I wonder who this Shardale character is... He must be very wise and all powerful.
Tanking Setups Compared
Stacking Penalty / Resists Explained |
Salpad
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Posted - 2008.01.30 17:16:00 -
[13]
Originally by: Hexxx Edited by: Hexxx on 30/01/2008 16:30:27
Originally by: Salpad I visited the EBank website, last night, and read the FAQ and everything, but nowhere was I able to find an explanation about how a savings account differs from a regular account.
3% interest per month doesn't sound like much[1], but I'd be willing to throw 50M ISK your way, if you will explain, on your website, how various account types differ from each other.
[1] I'm planning on throwing 50M after Akita T's "wild scheme IPO" as a high-risk investment, and then maybe 50M after EBank as a no-risk investment, and then my last 50M after some low-risk investment (which I haven't found yet).
Taken directly from our FAQ on the website:
Quote:
"What are the interest rates?
Checking works out to 1.5% per month and Savings works out to 3% per month. Compounded of course. =)"
Edit: actually, I don't see the caps listed for checking/savings. I'll add this but they are the following:
Maximum amount that can be transfered into a Savings account: 500 million isk
Maximum amount that can be transfered into a Checking account: 1 billion isk
I do know about the different interest rates. I saw that immediately (I do are about ROI, you know).
What has confused me, though, ever since I learned about the existence of EBank, is why anybody would want a checking account, when a savings account pays a higher interest. I am sure that there must be some way in which a checking account is somehow better than a savings account, but the website nowhere explains what said way is.
Why would anyone ever want to have money in a checking account, instead of in a saving account? Your FAQ doesn't even come close to trying to answer that question.
-- Salpad |
Block Ukx
KDM Corp Firmus Ixion
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Posted - 2008.01.30 17:18:00 -
[14]
Could you talk about how is the bankÆs money distribute among directors? What sum is in private wallets vs. corp wallets? How much is invested (loan/shares) vs. how much remains as ISK? How much money a single director has access to?
IÆm interested to learn how you have organized it.
BSAC Mineral Market Manipulation (MinMa) Information Desk |
EBANK Ricdic
Eve-Tech Savings n Loans
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Posted - 2008.01.30 17:31:00 -
[15]
I don't know if any of that information can be provided Block. Will let Hexxx answer if he believes we should.
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Hexxx
Minmatar
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Posted - 2008.01.30 17:35:00 -
[16]
Originally by: Block Ukx Could you talk about how is the bankÆs money distribute among directors? What sum is in private wallets vs. corp wallets? How much is invested (loan/shares) vs. how much remains as ISK? How much money a single director has access to?
IÆm interested to learn how you have organized it.
Sure thing, I'll try and catch you in-game.
In terms of how much we keep for withdraws, it changes but in general we try to keep it spread out so that the 4 tellers (Ricdic, me, Selene and Shar) have no more than 10 billion on us at a time. Generally I'd say we average 5 billion, Ricdic of course generally has more than this since all deposits go through him.
We do keep some in the Corp wallet but mostly it's with the tellers. The rest of it is in shares and loans.
Most of us sit in the "ebank" channel in-game.
Consulting, IPO Template, and Stock/Bond definitions.
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Hexxx
Minmatar
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Posted - 2008.01.30 17:40:00 -
[17]
Edited by: Hexxx on 30/01/2008 17:40:51
Originally by: Salpad
I do know about the different interest rates. I saw that immediately (I do are about ROI, you know).
What has confused me, though, ever since I learned about the existence of EBank, is why anybody would want a checking account, when a savings account pays a higher interest. I am sure that there must be some way in which a checking account is somehow better than a savings account, but the website nowhere explains what said way is.
Why would anyone ever want to have money in a checking account, instead of in a saving account? Your FAQ doesn't even come close to trying to answer that question.
EBANK is a Bank, not an IPO. There are several entities that pay much more than EBANK (FuryBank for example). People choose to keep their money with us because they are comfortable with the risk/reward and the ability to withdraw their funds when they need to.
EBANK is not for everyone. I encourage people to look at other options to get a feel for what's out there.
Consulting, IPO Template, and Stock/Bond definitions.
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Shar Tegral
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Posted - 2008.01.30 17:41:00 -
[18]
Originally by: Salpad What has confused me, though, ever since I learned about the existence of EBank, is why anybody would want a checking account, when a savings account pays a higher interest.
But of course everyone would prefer to have a higher paying account. Ergo the limitation upon it. Don't think all of our decisions are based without any type of self-interest. That would be foolhardy indeed. However Checking, as originally conceived, was to be a somewhat volatile type of account. It would allow for cross-depositor transactions. And yes, that could also cover oog sales, escrows, etc., etc.. At this time, however, such functionality has not be implemented. After all it has not yet been 6 months of working for Ebank. (And we've been open less than that!) So various goals get prioritized (and argued about) and the full blown functionality of checking accounts simply has not been implemented because other matters take precedence. And yes, this is one area I do hope to see developed but I'm realistic as well. All previous attempts to have a 3rd party oog market have fallen quite flat on their proverbial faces. However this time I think we have put the horse in front of the wagon by having people eager to deposit funds first and then we can attempt to build a market around that. (A micro-economy if you will.) Previous ventures developed all the market functionality first and then tried to work on getting adherents. So, right now Checking accounts is a way to get some interest from languishing funds. It is not as preferable as savings account indeed. But that just means those who line up for savings accounts have gained something worthwhile and those who have not... have not. >shrugs< |
Hexxx
Minmatar
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Posted - 2008.01.30 19:22:00 -
[19]
As a note; please feel free to join the channel "ebank" in-game to ask questions in real time with our Directors and other account holders.
Consulting, IPO Template, and Stock/Bond definitions.
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Salpad
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Posted - 2008.01.30 23:37:00 -
[20]
Originally by: Shar Tegral
Originally by: Salpad What has confused me, though, ever since I learned about the existence of EBank, is why anybody would want a checking account, when a savings account pays a higher interest.
But of course everyone would prefer to have a higher paying account. Ergo the limitation upon it. Don't think all of our decisions are based without any type of self-interest. That would be foolhardy indeed.
What is the limitation? That's the part that isn't clear to me at all.
Savings accounts are better than checking accounts because you get twice the ROI? I'm 10-4 on that.
checking accounts are, however, better than saving accounts because... because why? The FAQ doesn't explain it.
-- Salpad |
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Shar Tegral
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Posted - 2008.01.30 23:39:00 -
[21]
Originally by: Salpad checking accounts are, however, better than saving accounts because... because why? The FAQ doesn't explain it.
Checking accounts are not better than Savings accounts. |
Hexxx
Minmatar
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Posted - 2008.01.30 23:41:00 -
[22]
Originally by: Salpad
Originally by: Shar Tegral
Originally by: Salpad What has confused me, though, ever since I learned about the existence of EBank, is why anybody would want a checking account, when a savings account pays a higher interest.
But of course everyone would prefer to have a higher paying account. Ergo the limitation upon it. Don't think all of our decisions are based without any type of self-interest. That would be foolhardy indeed.
What is the limitation? That's the part that isn't clear to me at all.
Savings accounts are better than checking accounts because you get twice the ROI? I'm 10-4 on that.
checking accounts are, however, better than saving accounts because... because why? The FAQ doesn't explain it.
Savings Accounts are capped at 500 million. If you max that out and are still intrested in 1.5% per month you can put 1 billion in Checking. Interest will always be credited daily no matter the account balance however.
Hope that clears things up.
Consulting, IPO Template, and Stock/Bond definitions.
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Amarr Citizen 155
Alternative Methods Research Group
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Posted - 2008.01.30 23:43:00 -
[23]
Originally by: Salpad
Savings accounts are better than checking accounts because you get twice the ROI? I'm 10-4 on that.
checking accounts are, however, better than saving accounts because... because why? The FAQ doesn't explain it.
You must not be 10-4 on that as you just made 2 completely different observations.
---------------------------------------------- Why do it the hard way when you can do it the AMARR way. |
WarlockX
Amarr Free Trade Corp
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Posted - 2008.01.30 23:57:00 -
[24]
So even tho you can only put 1 bil into an account it still acrews intrest, so I i was to let the account build up to 2 bil eventually it would be getting 1.5% of 2bil correct? But if at any time I take out any of the money I can no longer put it back into the account above 1 bil? ----------------------------------------------- "I often quote myself. It adds spice to my conversation." |
Shar Tegral
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Posted - 2008.01.31 00:02:00 -
[25]
Originally by: WarlockX So even tho you can only put 1 bil into an account it still acrews intrest, so I i was to let the account build up to 2 bil eventually it would be getting 1.5% of 2bil correct? But if at any time I take out any of the money I can no longer put it back into the account above 1 bil?
Correct! |
Hexxx
Minmatar
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Posted - 2008.01.31 00:03:00 -
[26]
Originally by: WarlockX So even tho you can only put 1 bil into an account it still acrews intrest, so I i was to let the account build up to 2 bil eventually it would be getting 1.5% of 2bil correct? But if at any time I take out any of the money I can no longer put it back into the account above 1 bil?
Correct.
EBANK pays more than most IPO's if you leave your money in long enough. Remember, interest is compounded, daily.
Consulting, IPO Template, and Stock/Bond definitions.
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